Re:Sanders to propose canceling entire $1.6T in US student l...
by treis on Monday June 24, 2019 @11:36AM
(#20264572)
> 20 years paying no more than 10% of your disposable income and it gets wiped out.
That's not quite true. The part that gets wiped out counts as taxable income for that year. In other words, if 100k of loans go away you now have a 10-30k tax bill depending on your income and state. I support closing that loophole, but otherwise I agree that it's a pretty fair system.
That's not quite true. The part that gets wiped out counts as taxable income for that year. In other words, if 100k of loans go away you now have a 10-30k tax bill depending on your income and state. I support closing that loophole, but otherwise I agree that it's a pretty fair system.